Is concierge-style living the way forward for property management in Canary Wharf?

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With people busier than ever and not enough time left to do the most basic tasks after long working days and nights, our Canary Wharf letting agents have looked at whether offering this service is key to the future of renting in E14 and London.

Are concierge services a possibility for the rental market in E14 in future?

London has a huge renting population. Tenants are working very hard to pay rent and save for the future. They obviously socialise if they have disposable income, which most millennial tenants do these days. Furthermore, time is currency. People are working longer hours and possibly have a timely commute.

In essence, we have to ask: Is concierge living a possibility for renters in Canary Wharf and London in general? We think that it is absolutely a credible service that could be offered to those willing to pay for it.  Household duties that can be outsourced to a service provider will maximise time for the tenant and is ultimately a great concept.

With more money and less time, are tenants willing to pay for concierge services?

Will evolving property management services benefit both landlords and tenants?

Property management has traditionally worked in favour of the landlord. Services for our E14 landlords such as rent collection and property checks alongside maintenance etc are all vital to this service. But times are evolving and tenants have needs other than who to call when the boiler breaks down.

Perhaps it is time to consider the evolution of the letting agent and whether they should keep with the times and offer better service. According to Estate Agent Today, concierge service will be on offer within the next decade. Dry cleaning, travel organisation, delivery management and other general chore outsourcing will become the norm.

What role could E14 Letting Agents have in future?

The role of the letting agent in London is changing. Concierge property management is another service that could be offered by letting agents in future to make the life easier for both landlords and tenants. If there is a market for this service, which there seems to be in London particularly, then it should be filled. It by and large makes sense that letting agents fill that gap. If they do not then other worthy business minds will.

Ultimately if we treat tenants well and look after their needs then they will stick with us. Tenants do not always remain as such –  they are also future purchasers, possibly even future landlords. It is time to start looking at the bigger picture.

Do you have an apartment to let or manage in E14?

If you have a Canary Wharf property to let or manage, please do get in touch to discuss our range of landlord services and see how we can help. Likewise if you wish to rent, we have lots of properties on our books. Please click on the links below where one of our Canary Wharf agents will be at the other end of the line.

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